For Disney, ESPN & ABC News are the Gems - Mediaweek - 2/13/06

For Disney, ESPN & ABC News are the Gems

by Katy Bachman

For Citadel Broadcasting, buying a 48 percent stake in ABC Radio, which included long-established radio outlets in eight of the top 10 markets and ABC Radio Networks, was like nabbing the crown jewels.

The $2.7 billion deal, announced last week, vaults Citadel’s station portfolio—the broadcaster had concentrated on middle-market stations—into the ranks of the big boys.

But for Disney, a company that has always pursued a brand-over-bulk strategy, the branded network content and 50 radio outlets it is keeping are the real gems.